Tuya (NYSE:TUYA) Trading Up 9.1% – Still a Buy?

Tuya Inc. (NYSE:TUYA)’s stock price traded up 9.1% during trading on Friday . The stock traded as high as $3.83 and last traded at $3.75. 1,002,248 shares traded hands during trading, a decline of 77% from the average session volume of 4,332,792 shares. The stock had previously closed at $3.44.

Tuya Trading Up 11.5 %

The business’s fifty day simple moving average is $2.59 and its two-hundred day simple moving average is $1.96. The stock has a market capitalization of $2.05 billion, a P/E ratio of -127.83 and a beta of 0.39.

Tuya (NYSE:TUYA) last released its earnings results on Wednesday, February 26th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Tuya had a negative return on equity of 0.58% and a negative net margin of 5.55%. The firm had revenue of $82.06 million for the quarter, compared to analyst estimates of $81.40 million.

Tuya Announces Dividend

The company also recently announced a — dividend, which will be paid on Tuesday, April 15th. Investors of record on Thursday, March 13th will be given a $0.0608 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a yield of 6.1%. Tuya’s dividend payout ratio (DPR) is currently 400.00%.

Institutional Trading of Tuya

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Tuya by 91.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 633,686 shares of the company’s stock valued at $1,046,000 after purchasing an additional 302,261 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tuya by 60.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 350,116 shares of the company’s stock worth $578,000 after acquiring an additional 132,200 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tuya during the third quarter valued at $116,000. Paloma Partners Management Co acquired a new stake in shares of Tuya in the 3rd quarter valued at $73,000. Finally, Centiva Capital LP bought a new stake in shares of Tuya in the 3rd quarter worth about $63,000. Institutional investors own 11.47% of the company’s stock.

About Tuya

Tuya Inc offers purpose-built Internet of Things (IoT) cloud development platform in the People's Republic of China and internationally. The company provides platform-as-a-service that enables business, original equipment manufacturers, brands, and developers to develop, launch, manage, and monetize software-enabled smart devices and services; and industry software-as-a-service, which enables businesses to deploy, connect, and manage various types of smart devices.